SSH Communications Security Oyj - Company Announcement

SSH COMMUNICATIONS SECURITY STREAMLINES AND FURTHER FOCUSES ITS OPERATIONS AND COMMENCES EMPLOYER/EMPLOYEE NEGOTIATIONS TO REDUCE COSTS

Helsinki, Finland, 2016-11-09 13:00 CET (GLOBE NEWSWIRE) -- 

SSH further focuses its operations and renews its organization structure to
better correspond to the market environment and changing customer needs. 

These actions will align SSH operations better around its core strategy,
improve its execution capability, and decrease costs. These changes will make
the company even more competitive and helps it take advantage of the
opportunities offered by the changing and growing markets. 

As a part of the process, SSH commences employer/employee negotiations as per
the Finnish Act on Cooperation that cover all personnel groups and operations
in Finland. SSH also commences similar savings program in all its international
locations. 

The estimated need for personnel reductions globally is at most 37 people and
at most 27 people in Finland. SSH estimates to realize annual savings of 6 to 8
million Euro with the intended changes. 

The negotiation process and the savings program are estimated to be completed
during December 2016. 


Helsinki, November 9th, 2016


SSH COMMUNICATIONS SECURITY CORPORATION

Tatu Ylönen
Chief Executive Officer


Further information:
Jussi Mononen, COO, +358 45 615 4855


Distribution:
NASDAQ OMX Helsinki Oy
Major media
www.ssh.com


About SSH Communications Security:
SSH Communications Security is a leading provider of enterprise cybersecurity
solutions that monitor, control, and automate trusted access to critical data.
The company’s long track record of innovation includes Secure Shell (SSH) - one
of the world’s most widely used network security protocols. Customers worldwide
trust our flagship Universal SSH Key Manager® and other solutions to manage
access, while greatly reducing costs and compliance risks. The Company sells
direct through offices in North America, Europe and Asia and through a global
network of certified partners. The company’s shares (SSH1V) are quoted on the
NASDAQ OMX Helsinki. For more information, visit www.ssh.com.